According to the Commerce Department, it is said that the US current account deficit rose by 6.3% to $119.3bn in the first quarter of 2011. Strong exports of vehicles, computers and machinery were offset by imports, especially of more expensive oil.
The deficit for the quarter represented 3.2% of US GDP, which was up from 3% in the last quarter of 2010. Besides, the number of new properties built in April increased by 3.5%. However, property building remained subdued.
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